National

Ferrari sells for more than $150k to NSW buyer after heated online auction started at $9

A NEW South Wales buyer has purchased a rare Ferrari for more than $150,000 at auction, a long way from the first bid of $9 set last week.

The bright yellow 1998 Ferrari F355 F1 Berlinetta six-speed was placed on the auction block by GraysOnline last Friday morning.

It was initially on offer without a reserve price with the bidding starting on the ground floor at $9.

From there the sales price grew in leaps and bounds, breaking the $100,000 mark early Saturday afternoon.

Bids came in from all over Australia but predominantly from the inner suburbs of Melbourne, Sydney and Adelaide.

The Ferrari sold to a buyer in the western Sydney suburb of Auburn for $160,509 with the final bid lodged two minutes after the auction officially closed, during a 10 minute window for further bidding.

The final bid was only $100 more than its nearest rival, a bid of $160,409 from a buyer in Braybrook in Victoria.

The bidding closed at 7.30pm Adelaide time on Wednesday.

GraysOnline business development manager, Bobby Tuffs, told The Advertiser last week that similar models were selling for as much as $300,000 online.

The car was in good condition with 37,178 miles on the odometer and the previous owner, a collector of fine cars, put it up for sale because he was not able to drive it often enough.

Camera IconGraysOnline auctioneer Bobby Tuffs with the Ferrari that sold for $150,000.Picture: News Corp Australia